作者： admin

　　Cctv news: "Balance the relationship between steady growth and risk prevention. We are confident and capable of winning the battle to prevent and resolve financial risks. " On July 4th, the State Council held a press conference on the effectiveness of measures to promote the structural reform of the financial supply side. The relevant person in charge of China Banking and Insurance Regulatory Commission said that since the beginning of this year, China’s banking and insurance industry has continuously promoted the structural reform of the financial supply side, and the quality effect of financial services to the real economy has been continuously improved.

　　That night, "News Network" broadcast the relevant content. In fact, the conference also said a lot about preventing and defusing financial risks, especially what measures China Banking and Insurance Regulatory Commission has used and what results have been achieved in the past two years.

　　Positive progress has been made in preventing and resolving financial risks.

　　Liang Zhou, Vice Chairman of China Banking and Insurance Regulatory Commission, China, said that China Banking and Insurance Regulatory Commission dares to fight, take responsibility and confront difficulties, resolutely rectify market chaos and increase penalties. Over the past two years, more than 6 billion yuan has been confiscated, exceeding the total punishment in the previous ten years, and more than 8,000 people have been punished for violating the rules, which has formed a powerful shock.

　　Punishment is a means, not an end. The purpose is to force banks and insurance institutions to implement their main responsibilities through supervision and responsibility, maintain market order, protect the fundamental interests of the people, and firmly hold the bottom line that systemic financial risks do not occur.

　　With the efforts of all parties, the risks of high-risk institutions have been gradually resolved, and major cases of illegal fund-raising are being disposed of in an orderly manner. The effect of risk reduction in peer-to-peer lending is quite obvious.

　　The number of online lending institutions decreased by 57% compared with the beginning of 2018.

　　Unswervingly dismantle the high-risk shadow banks, and over the past two years, we have greatly reduced the high-risk financial assets with layers of nesting, complex structure and self-circulation by 13.74 trillion yuan, effectively curbing the financial reality.

　　At the same time, vigorously eradicate the soil of credit risk. In the past two years, the cumulative disposal of non-performing loans has exceeded 4 trillion yuan. At present, the non-performing loan ratio of the banking industry has stabilized at around 2%, and the provision coverage ratio has exceeded 175%. The main regulatory indicators such as the capital adequacy ratio of commercial banks and the comprehensive solvency adequacy ratio of insurance companies are at a good level.

　　Liang Zhou pointed out that "ammunition" to resist risks is sufficient. Financial risks have gradually turned from divergence to convergence, which is generally controllable.

　　Liang Zhou also said that he was clearly aware that there were still many gaps and deficiencies in the banking and insurance industry. If you want to understand and say it clearly, you must finally implement it. In the next step, China Banking and Insurance Regulatory Commission will continue to deepen the structural reform of the financial supply side, focus on enhancing the ability of financial services to the real economy, deepen financial reform and opening up, and balance the relationship between steady growth and risk prevention.

　　"We are confident and capable of winning the tough battle to prevent and resolve financial risks, promoting the continuous development of the banking and insurance industry to high quality, and providing stronger financial support for building a well-off society in an all-round way." Liang Zhou said firmly.

　　Cure chaos, make up shortcomings, maintain high-pressure situation, and rectify according to laws and regulations.

　　Liang Tao, Vice Chairman of China Banking and Insurance Regulatory Commission, China, made supplementary remarks on the work of dealing with chaos and making up shortcomings in the insurance industry. He said that in recent years, due to various reasons, China’s insurance institutions have experienced a rapid development stage, and there have also been blind expansion and chaos. Chaos is mainly manifested in weak corporate governance, illegal use of funds, improper product innovation, misleading sales, untrue financial business data and so on.

　　After the Party Committee of China Banking and Insurance Regulatory Commission was formally established, in May 2018, a meeting was held to promote the work of deepening the rectification of chaos in the banking and insurance markets. Require a comprehensive self-examination, leaving no dead ends. Deploy all insurance institutions to focus on the rectification of market chaos, check their own problems and make serious rectification.

　　The regulatory authorities also focused on key points and carried out regulatory inspections in a solid manner. In 2018, the regulatory authorities conducted 1,466 inspections of insurance institutions, with a total investment of 9,793 person-times. This year, the regulatory authorities at all levels continue to pay attention to the outstanding risks and problems in the insurance industry, and are now entering the market one after another to carry out inspections, which mainly cover corporate governance, solvency, capital utilization, auto insurance, agricultural insurance, short-term health insurance and so on.

　　Through strict punishment according to the law and regulations, we will maintain a high-pressure situation. In particular, the double penalty system has been implemented, and the punishment for senior executives has been strengthened. Various punishment measures have been taken comprehensively, such as limiting the business scope, ordering to stop accepting new business, revoking business licenses, revoking qualifications, and prohibiting entry into the insurance industry, so as to effectively increase the cost of violating laws and regulations, making institutions afraid, unable and unwilling to violate regulations.

　　Through continuous rectification, obvious results have been achieved, and the chaos in the insurance market has been corrected to a great extent.

　　Powerful shock the illegal subject. From January to May this year, 277 insurance institutions were punished, and institutions were fined more than 44 million yuan, ordered to stop accepting new business for 15 times, and their business licenses were revoked for 2 times. 416 responsible persons were punished, individuals were fined nearly 16 million yuan, and 18 people were disqualified.

　　The shortcomings of the system have been effectively compensated. Since 2018, more than 20 regulations and normative documents have been revised. Some problems such as lag, absence, overlapping and conflict have been effectively solved, and the institutional systems in key areas such as corporate governance, capital utilization, product management, consumer rights protection and self-construction of regulatory capacity have been further improved and perfected.

　　There are major risks in institutions, and the failure of corporate governance is an important reason.

　　Corporate governance is the "bull’s nose" for banks and insurance institutions to prevent risks and develop steadily. Many institutions have major risks, and the failure of corporate governance is an important reason. Some reporters have raised relevant questions.

　　In response to a question, Liang Tao said that some time ago, some cases occurred in the financial field, reflecting some outstanding problems in corporate governance of some operating institutions, mainly manifested in opaque and irregular equity relations, such as the problem of holding shares on behalf of others; There is also extensive management of related party transactions, and there is a problem of interest transfer; The development strategy blindly pursues extensive expansion, and the internal control does not match the development speed. In some institutions, the equity management is chaotic, the governance mechanism is ineffective, the "three meetings and one layer" is ineffective, and risks are accumulating.

　　China Banking and Insurance Regulatory Commission attaches great importance to corporate governance. Since the establishment of China Banking and Insurance Regulatory Commission in late March 2018, a symposium on corporate governance of small and medium-sized banks and insurance institutions was held in April to improve the corporate governance mechanism, organize research and deployment of banking and insurance industries.

　　After the promulgation of the "three-set plan", the corporate governance supervision department was set up to co-ordinate the corporate governance supervision of banks and insurance industries. By filling the shortcomings of the system, strengthening inspection and evaluation, and strengthening accountability, we will continue to promote the banking and insurance industries to improve the compliance and effectiveness of corporate governance. In the practice of supervision, we will implement differentiated supervision for different institutions according to specific conditions.

　　For large state-owned banks and insurance companies, we should improve the contents, rules and procedures of "three majors and one big" decision-making. For small and medium-sized commercial banks and insurance companies, we will focus on rectifying the chaos of shareholders’ equity and management transactions, and severely crack down on violations of shareholders’ equity and the transfer of benefits through illegal related party transactions.

　　In the next step, China Banking and Insurance Regulatory Commission will focus on improving the effectiveness of corporate governance of banking and insurance institutions, and continue to strengthen corporate governance supervision. First, make up for the shortcomings of corporate governance supervision system, improve the supervision system of corporate governance in banking and insurance industry, and fill the shortcomings in corporate governance mechanism, equity management and transaction management. The second is to evaluate the corporate governance of banking and insurance institutions, and rectify and implement the problems found. The third is to promote the construction of information system of corporate governance supervision, and improve the information level and scientific level of corporate governance supervision.

　　After low interest rate funds are lent to enterprises, the relevant funds are used for arbitrage.

　　In the first five months of this year, the average interest rate of new loans for inclusive small and micro enterprises issued by five large commercial banks was 4.79%, which was 0.65 percentage points lower than the average level of last year. Some people worry that the interest rate is too low and will not be sustainable in the future. Yang Liping, chief procurator of China Banking and Insurance Regulatory Commission, China, answered this question by herself when answering a reporter’s question. She said that it can be analyzed from the following aspects:

　　From the positioning point of view, large banks issue loans to small and micro enterprises, and the positioning is to protect capital and make small profits. By strengthening cost accounting, improving risk control and constantly improving products and services, banks position micro-financial services as protecting capital and making small profits.

　　Second, the state has given preferential policies for loans to small and micro enterprises. For example, the People’s Bank of China implemented the targeted cuts to required reserve ratios in inclusive finance to create targeted medium-term lending facilities, and the finance and taxation departments also have relevant policies, all of which are required to be reflected in the loan pricing of small and micro enterprises.

　　Third, through big data and cloud computing, large banks can identify risks more accurately and reduce excessive dependence on mortgage guarantees, thus reducing their own capital costs, operating costs and risk costs.

　　Finally, she added that the relevant departments also noticed that there were very few cases in the supervision practice. After individual banks lent low-interest funds to enterprises, the relevant funds were used for arbitrage and bought wealth management products. In this regard, banks are also required to strengthen the management of loan flow, so that low-cost funds will not be misappropriated and better serve small and micro enterprises.

　　In the next step, we will continue to promote services related to small and micro enterprises, including formulating an evaluation system and conducting unannounced visits to enterprises. We will conduct unannounced visits to enterprises in July, August and September this year.

Recently, the People’s Daily reporter visited Myitsone Hydropower Station in Myanmar after the shutdown, and investigated the living conditions of local people in Myanmar and the losses suffered by China Power Investment Group (hereinafter referred to as China Power Investment Corporation) after the suspension of the project. The People’s Daily published this survey article on January 3, 2014.

Myitsone Hydropower Station is the largest hydropower station in the hydropower development project in the upper reaches of Irrawaddy River signed by the governments of China and Myanmar. In March 2009, the governments of China and Myanmar signed the Framework Agreement on Cooperative Development of Hydropower Resources in Myanmar. The installed capacity of Myitsone Hydropower Station is 6 million kilowatts, with a total investment of 3.6 billion US dollars. Construction started first in December 2009, and the first unit is planned to generate electricity in 2017. However, on September 30, 2011, Myanmar President Thein Sein suddenly announced that the Myitsone hydropower project was temporarily put on hold during his term of office on the grounds of "people’s will".

Due to the suspension of the project, both China and Myanmar have suffered huge losses. The main investor, China Power Investment Corporation, bears the brunt. It goes without saying that the initial investment of 7 billion yuan is self-evident, and the financial interest and personnel maintenance fees of these funds are increasing at a rate of 300 million yuan per year. At the same time, the company faces huge claims for breach of contract from suppliers, construction units and other relevant contractors.

Myitsone hydropower station site

Myanmar suffered even more losses. According to the original plan, 30,000 people need to be employed locally for the construction, but only 78,000 people have emigrated to all the Yijiang projects, and all the laborers can be employed during the construction of the power station. Nowadays, many immigrants have no livelihood. Secondly, the confidence of foreign investment has been hit hard. Foreign investment in Myanmar has dropped sharply from $20 billion in fiscal year 2010-2011 to $1.49 billion in fiscal year 2012-2013. Third, economic growth has been frustrated. Experts estimate that Myanmar’s GDP will lose $5 billion every year when Myitsone Power Station is stopped, compared with $40 billion last year. The development of electric power is blocked, which may affect the realization of its goal of tripling its GDP in 2030.

According to the People’s Daily reporter, the Burmese people who opened a shop near the construction site said: "The villagers are actually not opposed to the construction of hydropower stations. Everyone is more concerned about livelihood and safety. We certainly welcome the construction of a safe hydropower station that allows us to use electricity and promote employment."

Among the reasons why some non-governmental organizations oppose the construction of Myitsone Hydropower Station, the clause of selling 90% of electricity to China has aroused nationalist sentiment in the hearts of Burmese people and catered to the western accusation that "China plundered Myanmar’s resources". But these accusations are untenable. According to the calculation, the installed capacity of Myitsone Power Station is 6 million kilowatts, and the annual power generation is three times that of Myanmar’s annual electricity consumption in 2011, which cannot be fully digested by Myanmar’s domestic market. According to the agreement signed between China and the Myanmar government, the Myanmar government will receive 10% of the free electricity from Myitsone Hydropower Station, and at the same time, it will give priority to power supply to Myanmar, waiting for the demand in the Myanmar market to increase. It is possible for the Myitsone Hydropower Station to transmit 100% electricity to Myanmar in the future. Some non-governmental organizations don’t know this situation, and they exaggerate that "China plunders Myanmar’s resources" and incite public opinion.

China Power Investment Corporation has never given up its efforts to restart the Myitsone project. Not long ago, China Power Investment Corporation invited Wu Saimin, deputy speaker of Kachin State Parliament, to lead 21 Kachin State legislators and media representatives to inspect the Myitsone Hydropower Station project, and also invited many Myanmar media as well as international media such as Asia News Channel and BBC to interview the project site. Domestic analysts in Myanmar generally believe that whether the new government can restart Myitsone Hydropower Project after the general election in 2015 depends largely on how China persuades the Myanmar government and local political forces to accept Myitsone Hydropower Project, which is a mutually beneficial project between China and Myanmar. Cheng Zhonghua, director of Myitsone Management Department of China Power Investment Group Yijiang Upstream Hydropower Co., Ltd., told the People’s Daily reporter: "We look forward to returning to work as soon as possible."

Schematic diagram of Myitsone Hydropower Station

The following is the full text of the People’s Daily reporter’s visit to Myitsone Hydropower Station in Myanmar after the shutdown.

Myitsone Hydropower Station is the largest hydropower development project in the upper reaches of Irrawaddy River signed by the Chinese and Burmese governments. According to the plan, seven cascade hydropower stations will be built in the upper reaches of the Yi River, with a total installed capacity of 20 million kilowatts, of which the installed capacity of Myitsone Hydropower Station is 6 million kilowatts.

"This project is a cooperative project signed by the governments of China and Myanmar and invited by the Myanmar government to participate in the development," Cheng Zhonghua, director of Myitsone Management Department of China Power Investment Group (hereinafter referred to as China Power Investment Corporation) Yijiang Upstream Hydropower Co., Ltd., told People’s Daily reporter that in October 2006, the Myanmar government participated in the third China — An invitation was sent to China Power Investment Corporation at the ASEAN Expo; In March 2009, the governments of China and Myanmar signed the Framework Agreement on Cooperative Development of Hydropower Resources in Myanmar. Since then, the hydropower development in the upper reaches of the Yijiang River of China Power Investment Corporation has been comprehensively promoted.

然而，2011年9月30日，缅甸总统吴登盛突然致函缅甸下议院，以“缅甸政府是民选政府，必须尊重人民意愿”为由，宣布在其任期内暂时搁置密松水电项目。近日，记者走进了停工后寂静的密松水电站。

密松水电站位置

仅设备停放导致中方损失每月就高达上千万元人民币

从缅甸克钦邦首府密支那向北行驶约38千米，就是密松水电站项目部。项目部门口尽管有数名保安把守，但大门周围已经长满荒草。进入施工区域后，经常能够看到修了一半的道路，还有很多刚刚打了地基或建了一半的房屋。由于无人看管，杂草从水泥地面的裂缝中钻出来，有的已经有一人多高。

在中电投负责修建的跨伊江大桥前，记者看到这座仅仅完工了一半的桥体静静地矗立在江面上。青绿色的江水从几个巨大的混凝土桥墩旁绕过，桥墩上暴露出已经锈迹斑斑的钢筋和横梁。按照中国公司的计划，水电站修建过程中，中电投将负责为伊江两岸修建共计约800千米的公路，极大方便两岸人民的出行和交通。然而在密松水电站被叫停后，伊江两岸的公路施工也陷入停顿。

Talking about the losses caused by the shutdown to China Company, Cheng Zhonghua said that the annual loan interest of the project reached 300 million yuan. After the construction started, the company delivered large-scale construction equipment worth 700 million yuan from China to the construction site. After the work was stopped in September 2011, the equipment was parked on the construction site. For these large-scale construction equipment maintenance, maintenance and rental costs, the company will lose tens of millions of yuan every month. After a year and a half of coordination with the Myanmar government and local armed forces, and the damaged bridges were repaired, all the equipment was finally shipped back to China at the end of March 2013.

Myitsone hydropower station area

Tens of thousands of local jobs have been lost.

The reporter then went to the immigrant new village next to the project department of Myitsone Hydropower Station. This new immigrant village built on the right bank of the Yi River is Anminda Village, with a total of 325 households, while about 85 immigrants on the left bank of the Yi River are placed in Mariyang Village. According to Cheng Zhonghua, these 400-odd households with more than 2,000 people are mainly villagers in Myitsone Dam area, and they need to be resettled first.

Immigrants’ New Village was completed as early as 2010. Most of the new immigrant villages are tall wooden houses with two-story frame structure, and each household has an independent courtyard. Some villagers with better economic conditions have built cement walls on the basis of wooden houses and planted economic trees, fruit trees and flowers around the courtyard. Immigrants’ new village has opened a wide cement road and running water, with 24-hour free power supply.

The reporter visited the schools and hospitals in Xincun. Both hardware and software conditions are first-class in Myanmar. The school not only accepts students from immigrant villages, but also students from many nearby villages. The teacher of the school, Duo Changda, told the reporter: "There are only three college students in the history of Myitsone. Since the establishment of Anminda Village School, students have been admitted to universities every year, and five students have been admitted this year."

Larry, pastor of Kachin Christian Baptist Church in Anminda Village, told the reporter that some villagers originally planted fruit trees or upland rice on the mountain. After moving into the new village, the land allocated to them by the Myanmar government was far away, and the quality of the land was not good. After the project was stopped, many villagers secretly returned to the reservoir area, continued to plant fruit trees and upland rice, or went to the rivers around the Yi River to engage in activities such as gold panning.

Cheng Zhonghua told reporters that due to the shelving of the project, many people lost their jobs, and the livelihood of immigrants had problems. The company still insisted on distributing rice to immigrants every month, with a total of more than 1,000 tons, which was welcomed by the villagers. If the Myitsone project is under construction, there will be tens of thousands of direct jobs in the peak period, and the number of indirect jobs such as service industry is incalculable. The company requires that local employees be used as much as possible.

"In the past, there were many shops near the construction site, and the business and catering industries were very prosperous. However, after the suspension of the Myitsone project, not only the business of nearby shops was bleak, but also the villagers who used to work on the project lost their jobs, "Minta, who opened a shop near the construction site, told reporters." The villagers are actually not opposed to the construction of hydropower stations. Everyone is more concerned about livelihood and safety. We certainly welcome the construction of a safe hydropower station that will enable us to use electricity and promote employment. "

Myitsone hydropower station site

If conditions permit, it will supply 100% power to Myanmar. Is this robbing Myanmar of resources?

Among the reasons why some non-governmental organizations oppose the construction of Myitsone Hydropower Station, the clause of selling 90% of electricity to China has aroused nationalist sentiment in the hearts of Burmese people and catered to the western accusation that "China plundered Myanmar’s resources". Cheng Zhonghua told reporters that in fact, when the company inspected the feasibility of the Myitsone Hydropower Station project, it was most worried about the issue of power sales. If the power sales could not be solved, the project would not be economically feasible, and the investment would not be established.

The construction of Myitsone Hydropower Station was put forward by Myanmar as early as 1952, but it could not be implemented due to technical, financial and market problems. Since the 1960s and 1970s, many enterprises including Kansai Company of Japan have visited Myitsone successively, among which Japanese companies submitted the preliminary development plan of Myitsone to the First Ministry of Electric Power of Myanmar Government in 2002.

Although Myanmar is a country short of electricity, the current consumption of electricity in Myanmar is still in its infancy. According to the calculation, the installed capacity of Myitsone Power Station is 6 million kilowatts, and the annual power generation is three times that of Myanmar’s annual electricity consumption in 2011, which cannot be fully digested by Myanmar’s domestic market. According to the agreement signed between China and the Myanmar government, the Myanmar government will receive 10% of the free electricity from Myitsone Hydropower Station, and at the same time, it will give priority to power supply to Myanmar, waiting for the demand in the Myanmar market to increase. It is possible for the Myitsone Hydropower Station to transmit 100% electricity to Myanmar in the future. However, some non-governmental organizations do not understand this situation, and they exaggerate that "China plunders Myanmar’s resources" and incite public opinion.

Some people in Myanmar oppose China’s construction of Myitsone Hydropower Station.

China introduced the development situation comprehensively, objectively and truly.

At present, the Myanmar government is secretive about the Myitsone hydropower project, and government officials are basically reluctant to mention it in public. Wu Saimeng Rui, Minister of Electric Power and Industry of Kachin State, refused to express his position on the Myitsone Hydropower Project in an interview with People’s Daily. However, there is a hydropower planning map of Kachin State hanging next to Wu Sai Meng Rui’s desk. When introducing Kachin State’s hydropower resources to reporters, Wu Sai Meng Rui deliberately pointed out seven cascade power stations planned and built in the upper reaches of the Yi River on the map.

Wu Saimeng Rui emphasized that hydropower has a unique advantage compared with other electric power. "It is not only cheap, but also recognized as a clean energy source in the world. Kachin State has the richest hydropower resources in Myanmar, but the current utilization rate is only 2.2%. In addition, the lack of high-voltage transmission network in Kachin State is also a big problem." Wu Saimeng Rui said that Myanmar welcomes foreign investment, but believes that the rights and interests of foreign investment can only be guaranteed after peace is achieved in Myanmar.

China Power Investment Corporation has never given up its efforts to restart the Myitsone project. Not long ago, China Power Investment Corporation invited Wu Saimin, deputy speaker of Kachin State Parliament, to lead 21 Kachin State legislators and media representatives to inspect the Myitsone Hydropower Station project, and also invited many Myanmar media as well as international media such as Asia News Channel and BBC to interview the project site. China Power Investment Corporation also published a book "Questions and Answers on the Development of Yijiang Hydropower" in Chinese, Myanmar and English, so that the public can fully, objectively and truly understand the development of Yijiang Hydropower.

Domestic analysts in Myanmar generally believe that whether the new government can restart Myitsone Hydropower Project after the general election in 2015 depends largely on how China persuades the Myanmar government and local political forces to accept Myitsone Hydropower Project, which is a mutually beneficial project between China and Myanmar. At the end of the interview, Cheng Zhonghua solemnly told reporters: "We look forward to returning to work as soon as possible."

　　Recently, the state issued 1.7 trillion central discount loans, of which 200 billion flowed into the renewal of medical equipment, which sounded the "assembly number" of the new infrastructure of medical equipment. This has also injected a "shot in the arm" into the medical device industry in the deep collection vortex.

　　After the good news was released, the A-share medical device sector rose sharply in recent days, with UIH Medical (688,271), Kaikai Medical (300,633), Mindray Medical (300,760), Candeley (603,987) and Xinmai Medical (688,016) leading the gains.

　　Solve the financing problem of hospital equipment procurement

　　Feng Jian, the head of a private hospital group in Zhejiang, told the First Financial Reporter that a local hospital under the group just happened to purchase medical equipment when the discount loan policy was issued, and soon received a phone call from the local bank and offered discount loans.

　　"Because it is precisely to purchase these equipment, the benefits of exempting interest are immediate." Feng Jian told the First Financial Reporter, "For private hospitals that are still in a difficult period of operation, purchasing large-scale medical equipment is a big investment in infrastructure costs, and it is still of great significance to get the actual capital cost concessions."

　　Li Bing, an investor in a private hospital in Shandong, told the First Financial Reporter that the loan interest rate within the support period of refinancing and financial discount policy (3 years) is not higher than 3.2% and not lower than 2.5% (financial discount level). If a hospital buys 20 million yuan of equipment, it will save 500,000 to 700,000 yuan in interest each year and 1 million to 1.5 million yuan in two years.

　　"The direct benefit of the hospital purchasing equipment is to increase the competitiveness of the hospital. If the loan allows, there are still hospitals willing to purchase equipment, and our hospital will declare it. However, if some hospitals are in poor operating conditions, such as high debt ratio, and banks do not approve them, that is another matter. " Li Bing told the First Financial Reporter.

　　He also reminded that the original intention of the discount loan policy is good, which can promote hospitals to improve the level of diagnosis and treatment, but for hospitals, they should also do what they can, especially private hospitals. "This policy provides a space for the hospital to operate. After all, it can get actual financial support. As a hospital, it should make full use of this policy. After all, it is necessary to increase investment and debt when purchasing equipment, and the money still needs to be paid back." Li Bing told the First Financial Reporter.

　　Yi Zhu, executive director of Sullivan’s Greater China Medical Group, told the First Financial Reporter: "2022 is a difficult year for the real economy, and the situation of financing difficulties has intensified. It is urgent to introduce the discount loan policy to alleviate the problem of financing difficulties and expensive financing for enterprises."

　　Yi Zhu believes that hospitals are an important part of social services and will be one of the beneficiaries of this policy. In addition to private hospitals, public hospitals also benefit obviously, because the funding channels of public hospitals are relatively simple, mainly relying on financial subsidies and loans. This policy can effectively solve the problem of insufficient funds in the development of hospitals, reduce the capital cost of hospitals, and promote the upgrading of hospital equipment to better serve the majority of patients.

　　"Large-scale tertiary public hospitals are of course strong, and all kinds of medical equipment are complete. Because patients gather in the head hospital, these hospitals always have to purchase equipment regardless of whether they are subsidized or not." A medical system person told the First Financial Reporter, "So this discount loan policy may benefit more grassroots public hospitals with weak medical infrastructure."

　　The relevant person in charge of a large tertiary hospital in Shanghai told the First Financial Reporter: "As we are the unit responsible for the budget of the Health and Health Commission, in the past, infrastructure construction and equipment investment needed to be purchased by ourselves. If it is really necessary to purchase equipment, we can consider loans. Through this discount loan policy, we can indeed buy some equipment."

　　The deputy director of the Radiology Department of another large tertiary hospital in Shanghai told the First Financial Reporter: "Many hospitals have applied for procurement, and we are still evaluating it. After all, the cost of purchasing an advanced medical imaging equipment is very high."

　　Some insiders also said that although some large tertiary hospitals are large in scale, their debts are also very serious, and they are very cautious about the decision to purchase equipment. Take Zhengda First Affiliated Hospital as an example. According to statistics, the balance of the hospital in 2021 was less than 1 billion yuan, accounting for less than 5% of the revenue.

　　"Our hospital will tend to build joint laboratories with some enterprises, so that the equipment of enterprises can be put into the hospital for free, saving a lot of money." The person in charge of the scientific research department of a hospital in Shanghai told the First Financial Reporter, "For example, we are preparing to cooperate with a domestic medical imaging equipment giant company to build a laboratory."

　　The director of the Radiology Department of a large tertiary hospital in Shanghai told the First Financial Reporter: "The key problem lies in the demand. The equipment is purchased according to the demand, and it is bought when there is demand, not because there is a discount policy, and there is no need to borrow money to buy it. It is unnecessary."

　　Imaging equipment manufacturers benefit first.

　　In Li Bing’s view, the most direct and first beneficiaries of the discount loan policy should be medical device manufacturers and distributors, not hospitals. "This means that the market of manufacturers has room for substantial growth." He told the first financial reporter.

　　Other investors also believe that the medical device industry, which has been silent for a while, may be reborn because the new infrastructure of medical devices has been put on the agenda. "In the past, the market did not attract enough attention to the new infrastructure of medical devices." A medical device investor told the First Financial Reporter, "Now the discount loan policy has shaken this undercurrent market."

　　Yi Zhu told the First Financial Reporter: "The policy limits the use direction of this loan to the purchase of medical equipment such as diagnosis and treatment, clinical examination, severe illness, rehabilitation and scientific research transformation. Correspondingly, it will mainly benefit the fields of imaging, IVD, monitoring and rehabilitation equipment."

　　Multinational giants first "liked" the discount loan policy. GE Medical told the First Financial Reporter: "Recently, we are concerned about the decision of the Standing Committee of the People’s Republic of China to determine special refinancing and financial interest subsidies to support the upgrading of equipment in some areas, expand market demand and increase development potential, and the Health and Health Commission took the lead in issuing a notice to confirm the use of financial interest subsidies to upgrade and transform medical equipment. This has undoubtedly injected a shot in the arm into the medical and health field, which is good for the overall domestic medical equipment industry. "

　　GE medical said that the implementation of a series of discount and loan combination boxing will be beneficial to the development of medical equipment manufacturing industry and accelerate the innovation iteration of enterprise equipment and products; On the other hand, it is also conducive to the overall development of medical equipment manufacturing industry, encouraging enterprises to expand production scale and improve production capacity and efficiency, which has a great impetus to the road of high-quality development of medical equipment in China.

　　At present, GE Medical has developed, produced and put more than 100 products into the market in China, covering a series of innovative products such as 256-slice CT, 3.0T magnetic resonance, obstetrics and gynecology, heart, whole-body ultrasound and ventilator, anesthesia, monitoring and ECG.

　　Some multinational medical device manufacturers also said that the favorable policies should be viewed more rationally. "It is still difficult to assess how much this policy will benefit our business, and we will have to wait until the final result comes out." The president of a European multinational medical imaging equipment company in China told the First Financial Reporter.

　　"The overall policy of discount loans is favorable. After all, in the short term, it will help to promote hospitals in need to buy or replace equipment as soon as possible." A senior official in China, a large German intensive care equipment manufacturer, told the First Financial Reporter, "But we should also see clearly that these demands are only released in advance. After all, equipment is not a high-frequency procurement commodity, unlike consumables. Now I buy more, and I may buy less in the future."

　　However, according to an internal document circulating in the industry, it seems unnecessary to worry about future demand reduction. "Some equipment may be purchased in advance, but with the increase in personnel and manpower investment in hospital equipment procurement, the ability to receive medical treatment will gradually increase, bringing new medical needs, which in turn will promote the hospital’s investment in new infrastructure." A summary of internal interviews with relevant departments wrote.

　　"I think as a hospital, they are more inclined to purchase some medical instruments and imaging equipment with shorter return period, such as CT, MRI, color Doppler ultrasound, IVD, and monitors, because there are a large number of patients’ needs, and for equipment such as surgical robots and gene sequencers that are expensive and difficult to return to their original cost, the demand of hospitals may not be so urgent." Seimi Zhang, a senior person in the medical device industry, told the First Financial Reporter.

　　Gu Xin, an executive of a multinational gene sequencing equipment manufacturer in China, told the First Financial Reporter that the types of equipment purchased by hospitals are closely related to clinical cognition. "At least at the present stage, the demand for using gene sequencing in clinical diagnosis is relatively small. This is because gene diagnosis is a relatively new discipline, and not many clinicians know this new technology. On the other hand, it is also related to cost. If gene diagnosis can be included in medical insurance in the future, the demand will increase significantly." Gu Xin told the First Financial Reporter.

　　Demand for innovative technology and equipment to be released

　　The first financial reporter learned that although some large tertiary hospitals are actively promoting the construction of research hospitals and strengthening their scientific research capabilities, the medical talent pool in emerging frontier technologies such as gene therapy is still in the early stage.

　　"Some hospitals pay more attention to scientific research, and the dean himself is an academician. They will be more active in the early layout of these new technologies, but the awareness of more hospital leaders is still lacking. Coupled with the current economic challenges, the investment in non-essential equipment will be less active." Gu Xin told the First Financial Reporter.

　　A deputy chief physician of the Department of Cardiology, a large tertiary hospital in Shanghai, told the First Financial Reporter that some genetic diagnosis techniques may be used in the field of structural heart disease, especially congenital heart disease, but they are rarely used as a whole, and their usefulness has not been fully revealed.

　　However, the situation is also changing. With more and more scientific research proving the influence of genes on diseases, precise treatment driven by gene diagnosis will surely receive more attention in the future. "For example, structural heart disease, current research has found that the incidence of a considerable number of patients is related to heredity. With the promotion of related research, precise treatment will definitely become the future trend." Gu Xin said.

　　In the eyes of the industry, this discount loan can not only release part of the clinical equipment demand, but also help accelerate the development of domestic medical equipment.

　　"At present, it is in the historical opportunity period when the country vigorously supports domestic innovative medical device products. I think hospitals may get greater support and encouragement when purchasing domestic devices and equipment." Seimi Zhang, an insider, told the First Financial Reporter.

　　UIH recently publicly responded to the new infrastructure of medical equipment on its WeChat WeChat official account. "We provide customized services for diversified scenarios for medical institutions at all levels for discount applications with tight time and difficult planning." UIH wrote. Since UIH went public at the end of August this year, its share price has risen steadily, and its current market value exceeds 160 billion yuan.

　　In addition, with more and more domestic surgical robots approved for listing by NMPA in China, the market believes that the discount loan policy will also stimulate the demand for technical equipment in this emerging field. For example, Tumai, the first domestic four-arm laparoscopic surgery robot independently developed by minimally invasive medical care, was approved by NMPA not long ago.

　　A domestic head surgery robot manufacturer has told the First Financial Reporter that since the release of the discount loan policy, the enthusiasm of hospitals for purchasing surgical robots is higher than in the past.

　　Jiang Tengfei, senior consulting director of Sullivan’s medical team in Greater China, believes that in terms of surgical robots, China enterprises can combine the advantages of the local market and exert their innovative ability in integrating AI intelligence. "In recent years, in terms of professional surgical instruments, a number of domestic brands with independent intellectual property rights have emerged in the China market, such as endoscopic/orthopedic surgical robots. How these enterprises develop in the future is worthy of attention." Jiang Tengfei told the First Financial Reporter.

　　"Now it seems that China’s centralized procurement policy will continue for a long time, which requires medical device companies to develop more innovative and core technologies that can be independently controlled, and serve the clinical unmet needs at a more competitive price." Seimi Zhang told the First Financial Reporter.

　　In recent years, the state has also issued a series of policies to encourage domestic medical device enterprises to accelerate innovation and become bigger and stronger. Last month, the National Medical Insurance Bureau clearly stated in the Reply of the National Medical Insurance Bureau to Recommendation No.4955 of the Fifth Session of the 13th National People’s Congress that "innovative medical devices will not be included in centralized procurement for the time being", and a certain market should be set aside outside centralized procurement to provide space for innovative products to open up markets.

　　However, in the field of domestic medical devices, there are still some problems in the industrial chain, such as duplication of low-end production capacity and waste of production resources, and there is still an objective gap with the world advanced level. Many products still need to be tested by the market. Enterprises need to further increase investment in R&D, achieve technological breakthroughs, gradually break through the core technical barriers of high-end equipment, and improve the localization rate of high-end medical device products. Take the high-end medical imaging products as an example. At present, the localization rate is less than 10%.

　　Cui Xiaobo, medical managing director of Ipsos medical industry, a consulting company, told the First Financial Reporter: "At first, domestic factories were engaged in the production of some relatively low-end medical device products. In the past few years, with the independent innovation and research and development advocated by the state, some manufacturers also began to develop high-end medical device products, but the core components still rely on imported supply chains, such as tubes and detectors of CT equipment. The problem caused by this is that the procurement cost is high. When it does not reach a certain amount, the enterprise has no bargaining power, so it loses money year after year. "

　　Cui Xiaobo said that although some local manufacturers of head medical devices are doing some independent research and development for some core components and referring to foreign enterprises, it is one thing to assemble medical devices, and it is another to use them well in clinical application. "Especially for the setting of some parameters, because international brands have a lot of overseas research and development or experience in other markets and then get it to the China market, I think there is still a certain gap in this part." He told the first financial reporter.

　　(Feng Jian, Li Bing, Seimi Zhang and Gu Xin in the text are all pseudonyms)